ARA Asset Management

[retnuoc]

Yes, please vote against the offer. Private equity is all about profit and the offer is definitely profitable with margin of safety. All major shareholder choose to stay, and I wonder what's the decision of Matthew international and Franklin Templeton

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[Contrarian]

I will vote against. Attending too for sure.

These 2 funds have about 15-17%. Only when the funds rally together do we have a chance of winning

Matthews International Cap Mgmt LLc 102,488,519 10.28 -2,275,500 -2.17 1.10 10/31/2016
Franklin Advisers Inc 53,934,103 5.41 0 0 3.41 10/31/2016
Mawer Investment Management Ltd 23,492,235 2.35 0 0 1.18 09/30/2016
Prusik Investment Management LLP 19,143,716 1.91 0 0 2.28 07/31/2016
Jackson National Asset Management LLC 11,411,341 1.14 0 0 2.30 06/30/2016
Franklin Intl Small Cap Growth Adv 46,734,622 4.69 0 0 3.38 09/30/2016
Matthews Asian Growth & Inc Investor 36,838,667 3.70 0 0 1.32 06/30/2016
Matthews Asia Dividend Investor 34,749,418 3.49 0 0 0.77 06/30/2016
Matthews Asia Small Companies Inv 11,869,818 1.19 2.33 06/30/2016
JNL/Franklin Templeton Intl Sm Cap Gr B 11,411,341 1.14 0 0 2.30 06/30/2016
Transamerica International Sm Cp Val I 7,632,240 0.77 09/30/2016

[EnSabahNur]

http://infopub.sgx.com/FileOpen/Announce...eID=428857


Matthews has been selling down.

[Stephen]

I'm a shareholder and by selling at this price I make a gain.

Don't mind rejecting the offer with VB buddies but what's to prevent ARA to pay no dividends from now on. Lowering the market share price , punishing those who rejected and offering a lower offer next time ?

This plagues me which makese more incline to just accept

[EnSabahNur]

You can't prevent such a scenario from happening. That is the drawback of being a minority shareholder.
The flip side of this loss of control over the company is your ability to sell in the market if you feel uneasy about this risk. John Lim does not have this luxury.

Like Contrarian pointed out, if there are other minority investors who control large block of shares, such as Fidelity, there is a chance that they may block such a thing from from happening (making a lower offer the next time). But this is not a guarantee.

But if ARA doesn't pay dividend, it is similar to cutting off the nose to spite the face. STC, John Lim and CK will not receive dividends if you do not receive dividends. Even if no dividend is paid, the cash is stuck on the balance sheet, will will cushion the value of the company (similar to Vicom).

In any case, as the Scheme announcement points out, with more private funds, ARA's capital needs are increasing. withholding dividends may not be such a bad thing, if it is put to use as seed capital, allowing AUM growth.

[Stephen]

May I know when is the date and place for voting ?

Just for the sake of shareholder Activism and minority solidarity..haha.i will reject

What u mention makes sense as they too suffer if no dividends are paid which could mitigate such risk ...

[HitandRun]

Erm....

Franklin Templeton also significant shareholder in Straits Trading wor....

[opmi]

Apocolypse, SOA has to meet 2 Conditions
Majority in shares - more or less sure passed

Majority in no of votes - every vore counts as one.

So if 10k shareholders holding a total 1% votes against
The SOA will fail.

[retnuoc]

Actually, there is no significant shareholding changes for John Lim, STC and CK. They maintain similar shareholding after rollover to new company. The major difference is there are 2 new shareholders. I think the motivations for John Lim, STC and CK are networks of new shareholders plus less dividend pressure. I am comfortable if ARA retain the earning due to their superior ROE

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[EnSabahNur]

http://www.businesstimes.com.sg/companie...sation-bid

Franklin Templeton will vote in favour

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